Making Money Online - Now What?

This is the 3rd post in a series. If you haven't already read them. please check out the previous entries.

Making Money Online - How To Begin

Making Money Online - Priorities

 

 

OK, We've had plenty of time now to consider the last article and decide if we really want to be serious about building an online business.

 

So, What do you think?

 

Can you set aside a few hours a week to devote to your success?

 

If not, that's cool. Hang around anyway. Maybe you'll get inspired and change your mind.

 

If you answered, Yes! (and were serious), Congratulations! You've crossed the first hurdle and are on your way. There are more obstacles ahead but making the mental commitment is crucial. Way to go!

 

Now What?

 

First we need to decide how to go about creating an income. There are four primary categories of  profit streams online. Let's look at them briefly.

 

Information

 

This category entails all forms of information transfer, from  blogs or websites, to ebooks and videos.

 

Physical Products

 

These would be any physical products you might create or purchase and sell online from crafts to cars.

 

Service

 

The service category covers everything from virtual assistants, web designers or SEOs to software products and WordPress plugins.

 

Advertising

 

Advertising is the symbiot of the four categories because it simply cannot survive on its own. It must be closely attached to at least one of the others for it to work.

 

Conversely, Information, Service and Physical Products all require Advertising to allow them to gain exposure and be successful, even if it's only word of mouth.

 

While it's entirely possible, even probable, for an income stream to cross over and fall under two or more of these divisions, everything will fall somewhere under the umbrella of these four.

 

Next we'll break down each of these categories and discuss how to make money with them.

 

No two individuals are alike. Neither are any two Internet marketers. Understanding the possible avenues of profit available online is important to deciding how best to approach building your business with methods that work for you.

 

to be continued...

 

 

Don't be a DWEEB! Grab my feed!

 

Making Money Online - Priorities

In the last post we looked at a few important questions someone has to ask themselves before striking out on their journey to making millions online.

Let's take a minute to look over those questions again.

1. How much money do you need/want to make?
2. How much time are you willing to spend to make it happen?
3. How much money are you willing to invest?

Now that you've had a chance to review the questions, answer this: Which of these is the most critical to your success?

Think about it this way:

You can spend a ton of money trying to make a ton of money but if you don't put in the time and effort, it just won't work. The people telling you about making a fortune online with just a point and a click are almost always selling you the magic product that will make it happen.

But how much is enough?

Realistically, you need to be able to devote 4 to 6 hours a week exclusively to your money making endeavors. This time should be allotted in 1 1/2 to 2 hour blocks. If you can only spend 30 minutes at a time you'll never get anything done.

This time has to be above and beyond your other internet activity. In other words, reading MMO blogs in your feed reader, writing posts to your own blog and checking stats does not count.

Why so much?

Look, if you can't spare 4 to 6 hours a week to build your new business, you probably need to reconsider how serious you are about this whole making money on the internet idea. If you can only spend a little time here and there when the mood strikes or there's nothing else to do, you'll just waste all your time and energy getting back up to speed and remembering where you were when you left off the last time. Essentially, you're just running in place.

Where can I find the time?

Everyone's priorities are different so this is one of those things you have to decide for yourself but I can make a couple of suggestions. First, cut your feed reader back to about 10 to 15 blogs or less. Next, consider reducing your blog posting frequency from every day to a couple of times a week.

If you are an active blogger, these two steps alone will easily free up 2 or 3 hours a week (probably more) for you to use building your business.

OK. So now you have decided you are willing to invest the necessary time to give yourself a chance at being successful, what about the other questions?

To be continued...

If you feel the need, grab my feed!

Making Money Online - How To Begin

So, you have decided you want to start making money online.

 

OK, good. Now what?

 

Start a blog about making money online and put AdSense ads on it?

 

Hah! Good Luck!

 

Seriously though, there are a couple of questions you need to really think about first.

 

1. What kind of money do you want/need to make?
2. How much time are you willing to budget for this endeavor?
3. How much money are you willing to spend to be successful?

 

Essentially, you need to decide if your internet business is going to be a lemonade stand, a yard sale, or a small business.

 

Each of these levels are completely doable. It's just a matter of making it happen. It is, however, important to decide what you want to accomplish so you can make a plan and set reasonable goals.

 

Having a plan with specific goals will help you stay on track to achieve the success you want/need.

 

Now we'll discuss what it takes to make each of these levels reachable in your journey to online success.

 

... to be continued.

 

Stay up to date. Grab my feed!